Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. PM Ciuca, Commissioner Schmit discuss need for European...

PM Ciuca, Commissioner Schmit discuss need for European solidarity in managing refugees, protecting economy

April 28, 2022

At the Government House on Thursday, Romania's Prime Minister Nicolae Ciuca welcomed European Commissioner for Employment and Social Rights Nicolas Schmit, to underline the need for Romania to enjoy European solidarity both in terms of managing the flow of refugees from Ukraine, and in order to protect the Romanian economy and the citizens from the effects of the multiple crises they are going through.According to a government press statement, analysed at the meeting was the European Union's response to the crisis generated by the Russian military aggression in Ukraine."The more than 620,000 refugees who have entered Romania since the beginning of the conflict, many of whom are children, have benefited from the support of the local government and civil society, who have provided shelter, food and integrated social services, including securing children's access to formal education. Special attention was paid to the need for support for the Republic of Moldova, which is affected by the influx of refugees, given the economic problems it is facing," the statement says.Ciuca presented Romania's strategy to develop its economy and secure its energy independence through the use of nuclear energy, the development of renewable energy production facilities and the exploitation of new offshore natural gas fields, at the same time with connecting to supply routes via Bulgaria and Greece.Also, the use of European money for the modernisation of the country and the creation of new jobs, in an integrated manner, bringing together both the funds under the National Recovery and Resilience Plan (PNRR) and the Multi-Annual Financial Framework, together with the programmes allocated at European level for the management of refugees, were mentioned as important opportunities for the actual manifestation of European solidarity.In his turn, Commissioner Schmit thanked Romania for its swift and effective response to the humanitarian crisis caused by the conflict in Ukraine, underscoring the effectiveness of efforts to receive more than half a million refugees."A special mention was made of the support given to Ukrainian children in need of access to education. The European official mentioned the European Commission's support for quick access to funds already available to member states, which will be supplemented with new resources," the release reads.As far as employment in Romania is concerned, Schmit mentioned a low unemployment rate in the country and the quality of social dialogue, pointing out that investment is needed in the digital sector and in education to increase the level of training of the workforce. 

Read in full - click here
Romanian banks extend 48% y/y more new loans in Q1

The volume of new local currency loans extended by Romanian banks (including refinancing loans) increased by 48.0% y/y to RON29.6bn (some EUR 6bn) in Q1, according to data published by the National Bank of Romania. Most of it was retail lending. The new loans extended to households (retail lending) surged by 83.5% y/y to RON20.8bn, and […]

APS, EBRD buy EUR 400mn sub-standard Romanian loans from Piraeus

The European Bank for Reconstruction and Development (EBRD) announced that, besides debt recovery specialist APS, it is taking over a portfolio of "around 2,000 sub-performing and non-performing loans" with a nominal value of some EUR 400mn in Romania, sold by Piraeus Bank. The EBRD's participation in the deal is 30%. The EBRD says that the […]

Romania's economic sentiment indicator ESI at 12-month high

The Economic Sentiment Indicator (ESI) calculated by Eurostat for Romania (105.1) reached the highest value in 12 months in April. This means that the managers and consumers expressed, to a larger extent, more positive views or expectations compared to the long-term average. "Based...

Romania’s public debt hits 52.4% of GDP at the end of February

Romania’s gross general government debt reached RON841.3bn (EUR169.3bn) at the end of February after increasing by RON57.8bn (EUR11.6bn) in the first two months of the year, according to data published by the Ministry of Finance. The debt-to-GDP ratio, calculated under EU methodology*, reached 52.4% at the end of February, from 48.8% at the...

Romanian private pension funds driven by Stock Exchange’s robust performance

The average monthly real yield of the mandatory private funds (Pillar 2) in Romania improved to a positive 1.9% in March, reversing the 0.5% and 0.4% negative real performances in February and January (when the inflation rates were higher), according to our calculations based on data published by the Financial Supervisory Authority (ASF). The...

Romanian president Iohannis to meet US president Biden in Washington 

Romania's president Klaus Iohannis will be received on May 7 at the White House by Joe Biden, the Presidential Administration announced. President Iohannis will pay an official visit to the US between May 7 and May 8.  During the same visit to the US, the Atlantic Council will honor the Romanian president with the Distinguished […]